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Sign into your accountRefine the RVM® with These 6 Home Upgrade Tips
June 16 2015
You know the importance of comps and market trends in price setting. But in today's market, understanding how property enhancements can change the valuation of a home can lead to a faster sell and greater commission. RPR®'s Realtors Valuation Model® (RVM®) makes it easy for you to give clients the most accurate valuation possible when preparing to list the property.
- The RVM goes beyond the AVM by adding listing and sales data from the MLS into the equation. Fully-authorized by the MLS, the RVM is able to accurately predict sales prices within a certain margin of error a certain percentage of the time.
- It is the only AVM product owned and operated by members of the National Association of REALTORS®.
- It gives you control and access to adjust the listing content to showcase your skills and expertise as the local real estate expert in your market on a fully-authorized basis.
Ready to try it out? Here's a few tips to get you up and running with the RVM.
TIP #1: 3 Ways to Refine Value with RPR
There are three ways to refine the value of a property using the RVM. First, double-check and manually adjust (if necessary) the basic facts about the property, i.e., the public record lists two bathrooms but in reality are there three? Did the homeowner add a deck last season? Has the market or home condition changed? You can make these adjustments and see real-time changes in the home's value as the RVM auto-adjusts to make value changes based on pre-determined calculations for each market.
